Common use of Mortgage Modifications Clause in Contracts

Mortgage Modifications. The applicable Borrower or Guarantor which owns the real property described on Schedule A appended hereto shall execute and deliver to Agent, on or before sixty (60) days following the Amendment No. 2 Effective Date (or such later date as Agent shall agree in writing), in form and substance reasonably satisfactory to Agent, a Modification with respect to the Mortgage covering such real property, duly authorized, executed and delivered by such Borrower or Guarantor, together with an appropriate endorsement with respect to the existing mortgagee title insurance policy insuring Agent's interest in each such Mortgage, as a result of the recordation of each such Mortgage Modification.